The Florida Public Service Commission (PSC) today approved an amended interim storm restoration recovery charge for Duke Energy Florida, LLC (DEF). Interim storm charges include costs associated with named storms and are subject to refund, with interest, pending review once actual recovery costs are known.
DEF’s amended storm recovery amount is $166.1 million associated with Hurricanes Elsa, Eta, Ian, Isaias, and Nicole and Tropical Storm Fred (the “Storms”) and Hurricane Idalia. This amount includes $91.9 million related to Hurricane Idalia and $73.9 million in unrecovered costs for the Storms. An interim storm charge to recover costs for the Storms was initially implemented from April 2023 through March 2024.
Amended PSC-approved storm recovery charges for a 1,000 kWh monthly residential bill will be reduced from $13.14 to $5.09, effective January 2024 with an extended recovery period through December 2024. This reflects a monthly decrease of $8.05 and includes replenishing DEF’s storm reserve.
In September, DEF reduced its actual recovery costs for the Storms by $10.7 million. A PSC hearing to review DEF’s actual costs for the Storms has been set for May 21-22, 2024. Any over- or under-recovery will be handled through the capacity cost recovery clause.
For additional information, visit www.floridapsc.com.
